Weekly Bearish Engulfing and Double TopWe have Bearish Divergence up here on both the RSI and MACD and if TSLA falls off a cliff we will see this thing come tanking down. I will be using this ETF as a cheaper alternative to get Monthly puts exposure on TSLA.Shortby RizeSenpai5
CAR Auto Index Fund 4th Quarter BuyWith the Micro Chip shortage and the ports being backed up, I think that we should get 1 more surge in price of CARZ due to the supple and demand imbalance. I made a purchase of 115 Share at 64.26 on Tuesday. See my buy, wins and loses on our other PlatformsLongby Lou100B1
Auto industry likely to inflect downward from hereManufacturing has been a red-hot sector lately, and the CARZ auto ETF has been a beneficiary of that boom. The latest manufacturing data out today show continued outperformance by this sector, which I suppose is why CARZ is up today: Empire State index: 17 Price of imported industrial supplies: +3.6% Manufacturing output: +1% When you drill into the data, however, it doesn't look as good for automakers. While overall manufacturing output is up 1%, output for auto manufacturers was down 3.7% in August. Another relevant data point from the August CPI report is that the price of used cars rose 5.4% in August. So it looks like the growing number of permanently unemployed workers, now deprived of stimulus checks and unemployment benefits, are starting to tighten their belts and reduce large expenditures. August credit card spend deteriorated in August, -13% YoY vs -12.3% the previous month. Consumer lending has tightened up as well, with banks opting to buy bonds rather than make loans. Shortby ChristopherCarrollSmithUpdated 3
MOTOR INDUSTRY: IT'S DOWN, DOWN, DOWN FROM HEREMotor Cars are obsolescent technology. They promised transport to any destination at any time of day or night. The present reality is gridlock, destinations inacessible, unsustainable road building, air pollution. E-cars are not the answer, but a new transport technology of capsules travelling in tubes, described at krunchiescab.blogspot.ie The Motor Industry will go into severe decline until it embraces this new technology.Shortby KrunchieKilleen4
Global AutoIndex, $CARZElliottWave Ending Diagonal, ready to head lower. At least reasonable size IV wave should be under progress. In next larger degree not marked to the chart it is possible IV is missing for upside, but at least for several weeks if not a month this should be bearish sign for most car makers.Shortby Maxknew110